Attached files
| file | filename |
|---|---|
| EX-31.4 - EX-31.4 - ALEXION PHARMACEUTICALS, INC. | alxnex31410-ka12312020.htm |
| EX-31.3 - EX-31.3 - ALEXION PHARMACEUTICALS, INC. | alxnex31310-ka12312020.htm |
| 10-K/A - 10-K/A - ALEXION PHARMACEUTICALS, INC. | alxn-20201231.htm |
Exhibit 99.1
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
The following table presents the reconciliation of GAAP to Non-GAAP net income (in millions, except per share amounts) for the years ended December 31, 2020, 2019 and 2018:
| Twelve months ended | |||||||||||||||||
| December 31 | |||||||||||||||||
| 2020 | 2019 | 2018 | |||||||||||||||
| GAAP net income | $ | 603.4 | $ | 2,404.3 | $ | 77.6 | |||||||||||
| Before tax adjustments: | |||||||||||||||||
| Cost of sales: | |||||||||||||||||
| Share-based compensation | 12.4 | 14.2 | 16.0 | ||||||||||||||
| Fair value adjustment in inventory acquired | 22.9 | — | — | ||||||||||||||
| Restructuring related expenses | — | — | 5.8 | ||||||||||||||
| Research and development expense: | |||||||||||||||||
| Share-based compensation | 68.6 | 61.7 | 57.4 | ||||||||||||||
| Fair value adjustment in inventory acquired | 4.9 | — | — | ||||||||||||||
| Upfront payments related to licenses and other strategic agreements | — | 103.4 | 26.7 | ||||||||||||||
| Restructuring related expenses | — | — | 0.1 | ||||||||||||||
| Selling, general and administrative expense: | |||||||||||||||||
| Share-based compensation | 179.7 | 161.1 | 129.6 | ||||||||||||||
| Restructuring related expenses | — | — | 19.4 | ||||||||||||||
| Litigation charges | 21.6 | 0.1 | 13.0 | ||||||||||||||
| Gain on sale of asset | — | — | (3.5) | ||||||||||||||
| Acquired in-process research and development | — | (4.1) | 1,183.0 | ||||||||||||||
| Amortization of purchased intangible assets | 253.7 | 309.6 | 320.1 | ||||||||||||||
| Change in fair value of contingent consideration | 61.2 | 11.6 | 116.5 | ||||||||||||||
| Acquisition-related costs | 117.6 | — | — | ||||||||||||||
| Restructuring expenses | 10.3 | 12.0 | 25.5 | ||||||||||||||
| Impairment of intangible assets | 2,053.3 | — | — | ||||||||||||||
| Gain on sale of asset | (14.8) | — | — | ||||||||||||||
| Investment income (expense): | |||||||||||||||||
| (Gains) and losses related to strategic equity investments | (26.6) | (59.7) | (43.1) | ||||||||||||||
| Other income and (expense): | |||||||||||||||||
| Gain related to modification of purchase option | — | (32.0) | — | ||||||||||||||
| Restructuring related expenses | — | — | (0.1) | ||||||||||||||
| Adjustments to income tax expense | (547.2) | (584.9) | (145.4) | ||||||||||||||
| Non-GAAP net income | $ | 2,821.0 | $ | 2,397.3 | $ | 1,798.6 | |||||||||||
| GAAP earnings per common share - diluted | $ | 2.72 | $ | 10.70 | $ | 0.35 | |||||||||||
| Non-GAAP earnings per common share - diluted | $ | 12.51 | $ | 10.53 | $ | 7.92 | |||||||||||
| Shares used in computing diluted earnings per common share (GAAP) | 222.0 | 224.8 | 224.5 | ||||||||||||||
| Shares used in computing diluted earnings per common share (non-GAAP) | 225.5 | 227.6 | 227.1 | ||||||||||||||